Related Terms
Transfer of a good or property from one entity to another, without any money exchanging hands. Most firms have written rules for giving or taking of gifts by their officers and employees. Gifts of real property normally attract capital transfer tax (gift tax) or inheritance tax.

Use 'gift' in a Sentence

Sometimes it can be a good idea to give a gift to a company you may be entering a long term relationship with.
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The child was grounded after throwing a tantrum and demanding a gift from every person who attended his birthday party.
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The little boy carefully wrapped a beautiful blue scarf in brightly colored paper and proudly gave it to his loving mother as a gift for her birthday.
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